U.S. private equity firms have been closing deals left and right over the past two weeks. The year-to-date closed-deal total ran higher as about $5 billion worth of transactions have been consummated over the last two weeks. The total now sits at $61.23 billion, well above the $51.12 billion recorded at this time last year, according to Buyouts data.
Recent notable transactions include the closing of Colony Capital’s $3.3 billion take-private of Fairmont Hotels & Resorts and Apax Partners’s $1.6 billion buyout of Tommy Hilfiger.
It was a truly hectic two weeks in fundraising—the biggest flurry of activity seen since the end of the first quarter. Buyout and mezz fundraising for 2006 now stands at $56.5 billion. Madison Dearborn Partners closed on $6.5 billion for its fifth fund, Riverside Partners closed its $225 million third fund, Parallel Investment Partners closed its $231 million fund and Key Principal Partners held a $435 million first close on its third fund.
Big news on the mezz front too: The Blackstone Group closed on $1.06 billion for its second mezzanine fund, The Carlyle Group closed its first mezzanine fund with $436 million and Trust Co. of the West is raising up to $1.2 billion for its fourth fund. Lehman Brothers Merchant Banking meanwhile, is reportedly looking to raise $3 billion for its fourth buyout fund.